What will I learn about: how cryptoassets function as an entirely new asset class that uniquely combines the utility of software with the store-of-value traits of precious metals like gold?

Understand how cryptoassets function as an entirely new asset class that uniquely combines the utility of software with the store-of-value traits of precious metals like gold.

What will I learn about: the revolutionary mechanics of blockchain technology, a decentralized, immutable, and cryptographic digital database that secures transactions without the need for traditional banks?

Discover the revolutionary mechanics of blockchain technology, a decentralized, immutable, and cryptographic digital database that secures transactions without the need for traditional banks.

What will I learn about: Learn about the mysterious 2008 origins of Bitcoin, created as a decentralized, math-based alternative to the traditional financial systems that failed during the global economic crisis?

Learn about the mysterious 2008 origins of Bitcoin, created as a decentralized, math-based alternative to the traditional financial systems that failed during the global economic crisis.

What will I learn about: how different cryptoassets serve distinct functions, such as Ethereum's unique public blockchain designed to collaboratively create open-source software rather than just process financial transactions?

Find out how different cryptoassets serve distinct functions, such as Ethereum's unique public blockchain designed to collaboratively create open-source software rather than just process financial transactions.

What will I learn about: Grasp the critical differences between public and private blockchains, and discover why financial services favor private networks like Monero and Zcash to enhance privacy and efficiency?

Grasp the critical differences between public and private blockchains, and discover why financial services favor private networks like Monero and Zcash to enhance privacy and efficiency.

Cryptoassets

The Innovative Investor’s Guide to Bitcoin and Beyond

Chris Burniske and Jack Tatar

★ 4.4 / 5(555 ratings)

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Money & Investments

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You should listen to this audiobook

💡Have you ever wondered how experts actually determine the value of a digital asset that doesn't have traditional earnings or cash flow?
💡Did you know that cryptoassets are far more than just 'digital money,' and understanding their three distinct categories is the key to building a resilient portfolio?
💡What if you could navigate the high-stakes world of blockchain technology with the same rigor and framework as a seasoned Wall Street investor?

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Key Takeaways from Cryptoassets

✓Understand how cryptoassets function as an entirely new asset class that uniquely combines the utility of software with the store-of-value traits of precious metals like gold.
✓Discover the revolutionary mechanics of blockchain technology, a decentralized, immutable, and cryptographic digital database that secures transactions without the need for traditional banks.
✓Learn about the mysterious 2008 origins of Bitcoin, created as a decentralized, math-based alternative to the traditional financial systems that failed during the global economic crisis.
✓Find out how different cryptoassets serve distinct functions, such as Ethereum's unique public blockchain designed to collaboratively create open-source software rather than just process financial transactions.
✓Grasp the critical differences between public and private blockchains, and discover why financial services favor private networks like Monero and Zcash to enhance privacy and efficiency.

Learning Tools

Reinforce what you learned from Cryptoassets

Mind Map

Cryptoassets

Definition & Nature+

Blockchain Technology+

Market Evolution+

Investment Strategy+

Investment Risks+

Buying & Storing+

Evaluating New Assets+

Actionable Advice+

Quiz — Test Your Understanding

Question 1 of 9

What defines a 'cryptoasset' according to the text?

A. A physical commodity backed by a centralized government reserve.
B. A new asset class consisting of software and an accompanying currency.
C. A digital stock that represents equity in a blockchain company.
D. A centralized database used primarily by traditional financial institutions.

Question 2 of 9

How does Bitcoin fit into traditional asset classifications?

A. It belongs strictly to the consumable/transformable asset class like oil.
B. It is solely classified as a store-of-value asset like gold.
C. It functions as both a consumable/transformable asset (via its software) and a store-of-value asset (via its currency).
D. It is classified as a traditional fiat currency due to its widespread adoption.

Question 3 of 9

Which of the following is NOT one of the four key properties of a public blockchain mentioned in the text?

A. Distributed
B. Cryptographic
C. Immutable
D. Reversible

Question 4 of 9

What primary feature distinguishes Ethereum from Bitcoin, according to the text?

A. Ethereum relies on a private blockchain, whereas Bitcoin uses a public one.
B. Ethereum uses its blockchain to distribute and enable the collaborative creation of open-source software.
C. Ethereum was created prior to the 2008 financial crisis as a trust-based system.
D. Ethereum's native asset is completely immune to market volatility.

Question 5 of 9

What does the 'speculation of crowds' problem refer to in the context of cryptoasset investing?

A. When institutional investors conspire to artificially lower market prices.
B. When amateur speculators blindly invest because they see others doing it, without understanding the asset's true worth.
C. When the supply of a cryptoasset exceeds the demand of the general public.
D. When governments crowd out private investors by launching their own digital currencies.

Question 6 of 9

Why does the author argue that adding cryptoassets to a traditional stocks-and-bonds portfolio is a wise diversification strategy?

A. Cryptoassets have a strong positive correlation with the stock market.
B. Cryptoassets offer a guaranteed fixed interest rate that offsets bond market losses.
C. Cryptoassets typically have zero correlation with traditional markets, protecting the portfolio from traditional market failures.
D. Cryptoassets are negatively correlated with bonds but positively correlated with stocks.

Question 7 of 9

How can an investor gauge the robustness and reliability of a cryptocurrency before buying it?

A. By checking its trading pair diversity to see how many fiat or cryptocurrencies can be used to purchase it.
B. By ensuring it can only be purchased with other cryptocurrencies, not fiat money.
C. By looking for cryptocurrencies that are centrally managed by a major traditional bank.
D. By confirming it has a highly concentrated issuance model.

Question 8 of 9

What is the primary trade-off between using a 'hot wallet' versus 'cold storage' for cryptoassets?

A. Hot wallets are immune to hackers but charge high fees; cold storage is free but vulnerable to theft.
B. Hot wallets keep the private key offline for maximum security; cold storage keeps it online for quick trading.
C. Hot wallets offer greater accessibility but are vulnerable to cybercrime; cold storage is highly secure but makes quick access difficult.
D. Hot wallets can only store Bitcoin; cold storage can store any type of cryptoasset.

Question 9 of 9

When evaluating a new cryptoasset, what is a major red flag to watch out for in its white paper and issuance model?

A. The white paper explains in detail how the asset functions as a decentralized service.
B. The issuance model distributes the native asset evenly among the general public.
C. The initial supply of the cryptoasset is deliberately kept low to prevent market oversaturation.
D. The white paper contains vagueness and spelling errors, and the issuance model unduly rewards miners and developers.

Cryptoassets — Full Chapter Overview

1Recommendation
21 — “Cryptoasset” is a broad term for a new asset class made up of software and currency.
32 — Cryptoassets rely on blockchain technology, which is genuinely revolutionary.
43 — Bitcoin was the first cryptoasset on the market, but many others have followed.
54 — Investment and finance are changing, and bold, well-informed investors may have much to gain.
65 — Investing in cryptoassets carries risks, and you could lose your money.
76 — Diversify your assets to create no correlation or negative correlation.
87 — You can buy cryptocurrencies in several ways, but pay attention to differences in trading pair diversity.
98 — Once you invest in a cryptoasset, you can store it in two different ways.
109 — There are a few other things truly innovative investors should watch closely.
1110 — Final summary

Cryptoassets Summary & Overview

Cryptoassets (2017) is both a brief history of Bitcoin and a detailed guide to investing in cryptoassets. It explains how blockchain technology came into existence and will help potential investors get their bearings in the world of cryptoassets.

Who Should Listen to Cryptoassets?

Innovative investors
Students of information technology
People interested in the world of finance

About the Author: Chris Burniske and Jack Tatar

Jack Tatar is the author of What’s the Deal with Bitcoins, one of the earliest books on the subject. He is an angel investor in cryptoasset startups and has worked in the financial-services industry for more than two decades.

Chris Burniske is a cofounder of Placeholder, a New York-based firm specializing in cryptoassets. He was instrumental in making Wall Street recognize cryptoassets as a new asset class.

Cryptoassets

If You're Curious About These Questions...

Listen to Cryptoassets — Free Audiobook

Key Takeaways from Cryptoassets

Learning Tools

Mind Map

Quiz — Test Your Understanding

Cryptoassets — Full Chapter Overview

Cryptoassets Summary & Overview

Who Should Listen to Cryptoassets?

About the Author: Chris Burniske and Jack Tatar

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